Van ECK Associates Corp Increases Holdings in ReNew Energy Global Plc (NASDAQ:RNW)

Van ECK Associates Corp grew its holdings in shares of ReNew Energy Global Plc (NASDAQ:RNW) by 58.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,278 shares of the company’s stock after buying an additional 4,513 shares during the period. Van ECK Associates Corp’s holdings in ReNew Energy Global were worth $72,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of RNW. Millennium Management LLC lifted its holdings in ReNew Energy Global by 60.5% during the 2nd quarter. Millennium Management LLC now owns 4,779,016 shares of the company’s stock worth $29,821,000 after buying an additional 1,802,191 shares during the last quarter. Rubric Capital Management LP lifted its holdings in shares of ReNew Energy Global by 15.3% in the 2nd quarter. Rubric Capital Management LP now owns 13,506,102 shares of the company’s stock valued at $84,278,000 after purchasing an additional 1,794,402 shares during the last quarter. Carrhae Capital LLP lifted its holdings in shares of ReNew Energy Global by 69.3% in the 3rd quarter. Carrhae Capital LLP now owns 3,654,991 shares of the company’s stock valued at $22,990,000 after purchasing an additional 1,495,819 shares during the last quarter. Daymark Wealth Partners LLC purchased a new stake in shares of ReNew Energy Global in the 2nd quarter valued at about $5,686,000. Finally, Swedbank AB purchased a new stake in shares of ReNew Energy Global in the 1st quarter valued at about $4,814,000. 43.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Roth Mkm reduced their target price on ReNew Energy Global from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday, August 19th. Morgan Stanley downgraded ReNew Energy Global from an “overweight” rating to an “equal weight” rating in a report on Thursday, September 26th.

ReNew Energy Global Stock Performance

Shares of RNW stock opened at $5.22 on Thursday. The stock has a market capitalization of $1.89 billion, a PE ratio of 174.33 and a beta of 0.95. ReNew Energy Global Plc has a 52-week low of $5.15 and a 52-week high of $7.79. The stock’s 50-day moving average price is $5.99 and its 200 day moving average price is $5.97. The company has a quick ratio of 0.66, a current ratio of 0.67 and a debt-to-equity ratio of 4.65.

About ReNew Energy Global

ReNew Energy Global Plc generates power through non-conventional and renewable energy sources in India. The company operates through two segments: Wind Power and Solar Power. It develops, builds, owns, and operates utility scale wind and solar energy, hydro energy, and utility-scale firm power projects, as well as distributed solar energy projects that generate energy for commercial and industrial customers.